I used to have a lot of cash me but since there's a change of currency in my country with a deadline to have all old currency notes returned to the bank by 31st January 2023, I have stopped using cash like I used to. Once all old notes are out of circulation, I will start using cash like I used to.
How often do you use cash?
- Thread started by Heatman
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I am being careful here. I don't want a situation where I will have some old notes with me when they are going to be phased out of circulation very soon.
India underwent demonetization around 6 years back and it was a disaster. Didn't fix shit in terms of curbing black money and banks were overwhelmed and my mother lost a whole lot of cash that she had stored somewhere and forgotten about.
Anyway with cards and UPI it's pretty easy to not need cash.
Anyway with cards and UPI it's pretty easy to not need cash.
I'm seeing the same thing happening here by January 31st. A lot of people are going to get caught up and it's not going to look good.
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In-person stores and restaurants yes. If I run low or cannot pay with cash like online them ofc I use a debit or credit card.
I equally use my debit cards too and hardly use my credit card.
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Not much anymore once all the gas pumps in my town went pre-paid only. Only for small purchases or small local shops that get burned on credit card charge usage.
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This is terrible. I hate it when such short notice are made because it will definitely affect people you thought it won't affect.
They are trying to get everyone in on cashless policy.
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My issue with what they are doing is that not everyone will align with such policy.
You don't and you will suffer any consequences it comes with.
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There are people that will miss out. That is my point or you don't get it?
Poor people who didn't know about it in time or couldn't travel to a bank in time got completely shafted.
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You get the point! I think there should be an extension window.
I'm very sure that thousands of people here in my country are going to suffer the same fate unless they extend the deadline.
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If there's no cash the money is easier to follow as well for those being ruled under.
We always use & carry cash. We don’t believe in credit cards. Only have a debit card which we rarely use. I learned early on to pay cash. We are debt free, mortgage free. Financially secure. We live within our means with only the occasional splurge. Do I think paying with cash helped? Yes. It’s too easy to go over a budget when you use a card. Yes, you may get points & cashback, but if your card is stolen, ALL your money would be stolen via identity theft. Whereas just the money we had in our wallet would be.